Can a bank use an employee identification card as the sole means to verify a customers identity?
A bank using documentary methods to verify a customers identity must have procedures that set forth the documents that the bank will use. The CIP rule gives examples of types of documents that have long been considered primary sources of identification and reflects the Agencies expectation that banks will obtain government-issued identification from most customers. However, other forms of identification may be used if they enable the bank to form a reasonable belief that it knows the true identity of the customer. Nonetheless, given the availability of counterfeit and fraudulently obtained documents, a bank is encouraged to obtain more than a single document to ensure that it has a reasonable belief that it knows the customers true identity. (January 2004) 3. Can a bank use an electronic credential, such as a digital certificate, as a non-documentary means to verify the identity of a customer that opens an account over the Internet or through some other purely electronic channel? A ban
Related Questions
- Can a bank keep copies of documents provided to verify a customers identity, in addition to the description required under 31 C.F.R. 103.121(b)(3)(i)(B), even if it is not required to do so?
- Can a bank use an employee identification card as the sole means to verify a customers identity?
- Is a Social Security card a proper means of identification?
